Weekly technical analysis
1. EMA 200 -> Bullish
2. RSI -> the RSI line is above on oversold level yet it is below the 50 line. the lower low of RSI line is ongoing due which marks the downtrend is gradually slowing
3. Major key level
Major key levels are levels that have not been broken by the price
a. Resistance - 2074
b. Support - 1677
Conclusion
Although the market outlook is bullish, the current trend is on sideways
1. EMA 200 -> Bullish
2. RSI -> the RSI line is above on oversold level yet it is below the 50 line. the lower low of RSI line is ongoing due which marks the downtrend is gradually slowing
3. Major key level
Major key levels are levels that have not been broken by the price
a. Resistance - 2074
b. Support - 1677
Conclusion
Although the market outlook is bullish, the current trend is on sideways
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.